The bill amends Section 35-4-25 of the Code of Alabama 1975, specifically addressing the acknowledgments taken by officers of certain business entities. The new legal language allows for acknowledgments or proofs of deeds, mortgages, or other conveyances to or by corporations, national banking associations, building and loan associations, savings and loan associations, credit unions, and now includes limited liability companies. The amendment stipulates that an officer who holds not more than one percent of the total issued and outstanding capital stock of these entities and does not hold any office within them can still take acknowledgments, which will have the same legal effect as if they did not own any stock.

Additionally, the bill removes the previous language that excluded limited liability companies from this provision. The act is set to become effective on October 1, 2025.

Statutes affected:
Introduced: 35-4-25, 35-4-25
Enrolled: 35-4-25, 35-4-25